Cega raises $5M in funding

Cega Finance, a Singapore-based provider of a decentralized finance application, raised $5M in funding.

The round, which brought the total amount to $9.3M, was led by Dragonfly Capital with participation from Pantera Capital and Robot Ventures.

The company intends to use the funds to accelerate the expansion of its product catalog, develop new DeFi innovative primitives, and create a trading team for exotic derivative specialists.

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Led by CEO Arisa Toyosaki, Cega is a decentralized finance application provider that creates exotic derivative contracts as well as consumer-facing staking products for the retail audience. It brings together a team of former derivative traders, developers, and founders, as well as a community of experts in the field for the development of exotic structured products that aim to generate yields with built-in downside protection for investors.

Source: FinSMEs